Personnel Movement — New Appointments

January 7, 1999 PSE MEMO FOR BROKERS NO. 015-99 SUBJECT : Personnel Movement New Appointments PERIOD COVERED : December 1, 1998 - December 31, 1998 FROM MEMBER FIRMS: NAME OF PREVIOUS PRESENT EMPLOYER POSITION EFFECTIVITY EMPLOYER EMPLOYER ENRIQUE LOZARI Economist November 18, 1998 Angping Abacus ORLINO BARRIENTOS Account Manager November 6, 1998 Anscor (re-hired) ELENA TAN Authorized Clerk January 4, 1999 Vantage Fidelity EDGAR TABILANGON Messenger November 16,1998 Philippine TA Goldstar FRANCIS FALCIS Administrator-Corporate January 4, 1999 Merrill Lynch (re-hired) Services Department Above-mentioned personnel have been issued clearances by their former employers to join another member-firm. For your information and guidance. (SGD.) RAFAEL L. LLAVE Chief Operating Officer